Cyberpunk as a frame for institutional change through blockchain applications A narrative analysis of three blockchain projects examining their goals regarding established institutions
Jan-Peter Schmitten, Julien Bucher · International Journal of Technology Management · 2024
Introduced in 2009, the founding narrative of blockchain technologies is one of the failures of the banking system and the disappointed hopes of freedom and democracy of the early internet. Blockchain technologies could rectify the lost trust and fulfil lost hopes by changing institutional arrangements and by removing intermediaries that resemble the corporate behemoths imagined in cyberpunk fiction. Using Greimas' actantial-model, this study analyses how cyberpunk references are used by blockchain projects to frame their aims in terms of institutional change for more desirable futures. This study highlights the role of fictional stories in framing innovation and how they can reveal the institutional goals of organisations. A contrasting case without cyberpunk underscores the interpretive flexibility of blockchain technologies in terms of their potential to complement, change, or replace current institutions, leaving the 'if' and 'how' open questions for now.